He bought a home, gave it for redevelopment years later and sold new flat for Rs 1.95 crore within 8 days; taxman denied LTCG exemption and added Rs 80.14 lakh, but ITAT grants relief
The man said that he had invested the entire Rs 1.95 crore from the sale in purchasing another residential flat at a different location. (Image for representative purpose only) You buy a flat and after some years the housing society gives it for redevelopment. You then sell the redeveloped flat within days of getting it…
